Boris Johnson is to “step up the tempo” of talks in Brussels to secure a new Brexit deal, as he attempts to avert a defeat at the hands of Labour and pro-European Conservative rebel MPs at Westminster next week.
- Furious Bercow Ready to Defy Advice Again After Decision to Prorogue Parliament – The Times
- Scottish Conservative Leader Davidson Quits – Reuters
- Brexit Bite Pushes UK Consumer Confidence to Six-Year Low – Bloomberg
Boris Johnson has pushed Britain to the brink of a constitutional crisis as internal discord rises.
- Suspension of Parliament is an Affront to Democracy – Financial Times
- ‘A Very British Coup’: How Europe Reacted to Johnson Suspending Parliament – Daily Telegraph
- Davidson Expected to Quit as Scottish Tory Leader – The Guardian
- MEPs to Trigger EU Investigation into UK Government Over Suspension of Parliament – Independent
- Bets on Pound Volatility Climb After Johnson’s No-Deal Gambit – Financial Times
Prime Minister Boris Johnson asked Queen Elizabeth II to suspend the UK Parliament from mid-September to mid-October – a move that could hamper lawmakers efforts to block a no-deal Brexit and even trigger a constitutional crisis.
- Johnson to Restrict Parliament Time Before Brexit – Reuters
- Pound Drops as Fears of No-Deal Brexit Grow – Reuters
- Johnson Tells Juncker No Brexit Deal if Backstop Remains – Reuters
- Juncker Tells Johnson EU Support for Ireland is Steadfast – Reuters
The Foreign Exchange Professionals Association (FXPA) will be hosting a networking event and discussion forum on trading venue-related issues on Thursday, September 5th, at 5:00 pm in New York. The panel discussion and interactive forum will focus on such issues as the handling by trading venues of off-market transactions, as well as the disclosure of trade volume and matching engine information. To request an invitation, please email firstname.lastname@example.org as seating is limited.Read More
China’s yuan slumped to a fresh 11-year low against the dollar on Monday and stocks fell as the Sino-US trade war sharply escalated, threatening to inflict more damage on the world’s largest economies and weigh further on global growth.
- China Says Wants ‘Calm’ Resolution to US Trade War – Reuters
- Trump Regrets Not Raising Tariffs on China Higher, White House Says – Reuters
- China to Raise Import Tariffs on US Scrap Copper, Aluminum From December 15 – Reuters
Mexico’s central bank cut its key lending rate for the first time since June 2014, citing slowing inflation and increasing slack in the economy, and fueling expectations that further monetary policy easing could be on the way.Read More
Global stocks crumbled and oil prices extended a punishing sell-off on Thursday as an inverted US bond yield curve intensified fears about a world recession.
- As Global Order Crumbles, Risks of Recession Grow – Wall Street Journal
- US Curve Inverts for First Time in 12 Years; 30-Year Yield Tumbles – Reuters
Hong Kong’s airport resumed operations on Wednesday, rescheduling hundreds of flights that had been disrupted over the past two days as protesters clashed with riot police in a deepening crisis in the Chinese-controlled city.
- Hong Kong Airport Obtains Injunction to Stop Protesters Obstructing Operations – Straits Times
- Yuan Drop Could Roil Already Strained Hong Kong-Protest Hit Economy –South China Morning Post
Hong Kong’s deepening political crisis now risks becoming an economic one.
- Hong Kong Airport Grinds to Halt; China Likens Protests to Terrorism – Reuters
- Hong Kong’s Economic Troubles are Just Beginning – Asia Nikkei Review
Former China central bankers have warned of currency-war risks with the US after an abrupt escalation of trade tensions between the world’s two biggest economies this week.
- IMF Says China Should Keep Yuan Flexible as Trade War Widens – Bloomberg
- If China is a ‘Currency Manipulator’, Then Every Country Is – Forbes